Home ChinaMoney: Counter-cyclical factor will play active role in keeping yuan exchange rate stable

ChinaMoney: Counter-cyclical factor will play active role in keeping yuan exchange rate stable

Published date: 24 Aug. 2018 | 13:38

China FX Trading Platform, ChinaMoney, was out with some comments in the last hour and said that counter-cyclical factor will play an active role in keeping Yuan exchange rate stable.

Key quotes:

“¢ Yuan is able to keep stable at equilibrium levels.
“¢ There are pro-cyclical activities in the FX market.
“¢ They are affected by trade frictions, stronger Dollar Index.
“¢ China has actively adjusted counter-cyclical factor in the Yuan mid-point fixing mechanism from August.
“¢ Against the US Dollar, it appropriately offset pro-cyclical sentiment.

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